London-based Ryft announced its latest funding round, securing £5.7M in Series A capital from a group of investors. The new investment builds on past funding efforts and sets the stage for continued expansion into international markets while further refining the firm’s payment automation offerings. Additional insights suggest the company is actively addressing the challenges faced by acquiring banks in modern multi-party transactions, and its plans now incorporate technology improvements and strategic partnerships.
Earlier published reports described Ryft’s evolution, highlighting its journey from a successful seed round and FCA licensing to partnerships with global card networks. Recent coverage reinforces these details while emphasizing cost efficiency and regulatory compliance as central to the company’s strategy.
What impact does the new funding have?
The influx of capital will drive product enhancements and support Ryft’s efforts to offer streamlined payment solutions. The investment round was led by EdenBase, with contributions from GPOS Investments, British Business Bank, Pembroke VCT, Sidebyside, Ingenii VC, and strategic angel investors.
“We backed Ryft because we saw a team with deep payments expertise, the ambition to challenge incumbents, and the execution to make it happen. Their rapid growth, capital efficiency, and ability to turn payments from a cost centre into a profit driver stood out.” – Fred Ursell
Can the updated platform assist acquiring banks effectively?
Ryft’s platform now facilitates payment splitting, fund holding under specific conditions, and improved regulatory compliance, directly addressing the complexities of multi-party transactions. The system, backed by an escrow license, reduces the costs that banks face when integrating with intricate third-party solutions.
“Acquiring banks and most businesses were built for one-to-one transactions. In the era of Commerce 2.0, we provide a solution to manage multi-party operations.” – Sadra Hosseini
Formed by Sadra Hosseini and Alex Mackenzie following their exit of Butlr, Ryft now intends to upgrade its modular capabilities and broaden its reach across markets. The funding will assist acquiring banks like Clearhaus in competing with broader payment solutions offered by firms such as Stripe Connect and Adyen.
Investor involvement extends to notable industry figures, including executives connected to PayPal (NASDAQ:PYPL). The company’s impressive growth, evidenced by considerable savings reported by over 1,500 businesses, supports its plan for further team expansion and revenue increases.
“Sadra and Alex are tried and tested entrepreneurs with firsthand experience of payment partner challenges.” – Eric Van der Kleij
Market sentiment remains positive as endorsements continue from financial observers. Jason Druker of SFC Capital expressed confidence in Ryft’s scalable solution, noting its potential to address key operational issues in payments.
“Ryft is solving a critical challenge in the payments space with a highly scalable solution.” – Jason Druker
The funding round reinforces a strategic path that balances technological innovation with regulatory diligence.
